Federato’s AI-powered insurance submission triage brings decision support to the top of the funnel
The Federato platform automatically identifies and surfaces submissions from your underwriter's email inbox, saving time and preventing deals from slipping through the cracks. Underwriters are able to get quotes out up to 89% faster.
Federato has solved what had been a persistent problem for us by providing a flexible and configurable platform that simplifies complexity and enables collaboration across our team, letting us focus on the technical pricing and speed that differentiates our business, while spending a minimal amount of time wrangling old technology."
Once a submission is identified, the system gives it a triage score based on the data points you’ve set as important for your business. The submissions that best fit your parameters receive the highest scores, and are recommended first to your underwriters, driving up to 2.8x more high-appetite quotes.
For submissions that clearly aren't a fit for your business, such as unsupported states or NAICs, the platform recommends a decline. If you choose, it can even send declines automatically to submissions that fall in that category. With up to 71% less time spent identifying guidelines, underwriters reclaim time for higher-value opportunities.
With our first 30 rules that we programmed, we were able to capture about 95% of the recommended declines and recommended referrals."
